Listing Id: 22444
Last Refreshed: 20/06/2021
Total Views: 241
(Expired)Premium, Mature And Profitable Gym Location
Kuala Lumpur - Jalan AmpangGyms and Fitness CentersSports Shops
Asking Price: RM550,000
Business For Takeover
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- Overview
- Reason For Sale
- Description
- Business Operation
- Property Information
- Supporting Document
Overview
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Premise Type
Shopping Mall
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Premise Size
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Monthly Rental
RM10,000
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Rental Desposit
RM50,000***
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Revenue
RM105,000
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Liability
N/A
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Gross Profit
RM40,000
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Net Profit
RM30,000
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Stock
N/A
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FFE
RM500,000***
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Payable
N/A
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Receivable
N/A
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Owner Role
Full Time
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Staff
10
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Established
2016
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Source
Direct Seller
Reason For Sale
We cannot fund the renewal costs of the franchise license, and required design changes, due to cash flow. As foreigners, we cannot source financing to support cash flow.
Description
I own and operate a successful Anytime Fitness franchise in Ampang Point, but due to Covid MCOs over the last year or so affecting my finances across 5 gym locations, we have not been able to fund the renewal of our franchise license at this particular location or carry out the required brand design scheme changes, all of which costs around RM500k.
However, the gym can continue operating as an independent brand, and the landlords will drop the rent by around 50% for the upcoming 12-24 months to support a new tenant.
As an owner of several other Anytime Fitness franchise locations in KL/Selangor, I am not allowed to operate an independent brand, and so I am aiming to sell the business as a going concern, and assist in the transition to an independent brand, whilst maintaining the existing renovations, equipment and thriving membership base.
The equipment is all top spec and in excellent condition, and the club has been well maintained and looked after. Local competition of the same level is minimal, and the membership subscriber base is strong.
I have a ready to go model to follow in terms of 'rebranding' the gym and reopening with the most suitable suppliers, systems and processes.
The business will return an average of RM30k EBIT per month, and can do so for another 6 years quite comfortably. I am looking for a total investment of RM550k, including purchase price, landlord deposits, and rebranding costs
Business Operation
Fully equipped with top-end equipment and facilities. Ready to go.
Facilities
Only low end competition.
Competition
Can easily replicate the brand into further locations
Expansion Potential
Yes, this is franchise business.
Yes, but better to rebrand as an independent gym and just take over the franchise's customer base, who are loyally to the area/location not the brand - Gyms are all about convenience, so location is the key for customers. This gym is already renovated and kitted out as the leading franchise, but can continue operating without paying the royalty fees!
Franchise
3 months consultancy from current operator to help relaunch.
Support and Training
Property Information
New 3 year lease required, starting September or October 2021 in order to take advantage of the landlord's willingness to offer low 'Covid rental'
Lease Term
Facilities are only 3 years old. This is very young for a gym and the equipment and facilities are all in excellent condition.
Approc RM30k would be needed to be spend on rebranding (paint, signage, door access system for members). This is included in the asking price
Premises Details
Malaysia